App-based Mobility Services Market: Introduction
App-based mobility services are the integration of various forms of transport through the use of a web-based or mobile-based application to provide access to mobility.
Key Drivers of App-based Mobility Services Market
There has been a fundamental change in consumer behavior in the last few years; societal trend toward flexible ridesharing and vehicle subscription mobility models, which are primarily run on phone-based apps, is driving the app-based mobility services market. Customers increasingly get used to these models majorly in urban areas and gradually in rural areas. App-based services enable users to avail mobility services instantly on their fingertips, thereby eliminating the hefty phone call or cumbersome manual booking of services, even consumers in rapidly developing economies are adopting these app-based mobility services.
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Challenges in App-based Mobility Services Market
COVID-19 has changed the dynamics of several economies globally. What used to be the norm till last year may well become obsolete in the coming weeks. Therefore, each industry needs to adapt itself to the new normal. App-based mobility services, such as the car rental industry, is well-equipped and prepared to serve its customers. Demand for app-based car subscriptions is estimated to rise significantly, especially considering the current recession. OEMs are offering vehicle subscription model recognizing the potential of a pay-as-you-go subscription model, which could help bring back demand in a struggling marketplace. In such a scenario, app-based self-drive car rental, car leasing services or vehicle subscription models are emerging as a new favorite and gaining traction with a large number of commuters opting for them. This trend is likely to rise in the near future at least till 2021.
Opportunities in App-based Mobility Services Market
Numerous OEMs have started rolling out app-based vehicle subscription services, either directly or in partnership with third-party providers, which is estimated to create a much needed trust for higher app-based vehicle subscription. Therefore, this scenario is projected to further propel the app-based mobility services market.
Asia Pacific to Dominate App-based Mobility Services Market
Based on region, the global app based mobility services market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific is anticipated to hold a major share of the global market. The market in the region is anticipated to expand at a high growth rate, as compared to the market in other regions, owing to a rise in population, urbanization, industrialization and improvement in living standards of the people in the region. This is estimated to boost use of app-based mobility services in rapidly developing countries such as China and India.
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Key Players Operating in App Based Mobility Services Market
The global app-based mobility services market is moderately consolidated. A few of the key players operating in the global app-based mobility services market are:
- IBM Corporation
Global App Based Mobility Services Mark: Research Scope
Global App Based Mobility Services Market, by Model Type
- Vehicle Subscription
Global App Based Mobility Services Market, by Service Provider
- Mobility Provider
Global App Based Mobility Services Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.